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<br />. <br />, ~ ,.-" <br /> <br />membership votes in LAWMA voted to: (a) authorize LAWMA's Board of Directors to enter <br />into a contract with the CWCB for a loan in the amount of $2,272,500.00 for LAWMA's <br />purchase of one-half of the Keesee water rights;(b) increase LA WMA' s share assessments to <br />$22.30 per share for 2004; and (c) to maintain an average share assessment of $22.30 per share <br />over the long-term with actual share assessments to be in the range of$18.00 to $25.00 per share <br />in order to cover LA WMA' s expenses and, specifically including, all of LA WMA's CWCB loan <br />payments. <br /> <br />8. Even if all of the potential membership votes in LAWMA 641 were <br />subtracted from the total of 14,920 shares of stock and membership votes cast in favor ofthyse <br />questions at the annual meeting, 14,279 shares of stock in LAWMA would have been cast in <br />favor of these questions. 14,279 shares of stock in LAWMA represent approximately: (a) 74% <br />of the total of 19,221 LAWMA share and membership votes; (b) 77% of the total of 18,580 <br />outstanding shares ofLAWMA stock; and (c) 90% of the tota115,841 shares ofLAWMA stock <br />and membership votes that were represented at the annual meeting. <br /> <br />Dated this /lJtf..day of ~ Lt:..~ b~ ,2003. <br /> <br />t,lv..k <br />o ""l.... <br /> <br />llfl'1-~' <br />1'\ ,)' Ii" <br />-= i 1"(. <br /> <br /> <br />SUBSCRIBED AND SWORN to before me this --1.It:.- day of L\JU [J,fll)lA, , <br />2003. Witness my hand and official seal. <br /> <br />~JAJ fJ~ <br />Notary Public <br /> <br />My commission expires: <br /> <br />5/ J..3! dOOS- <br /> <br />Page 2 <br />